Forecast for EUR/USD on April 23, 2020


Investors were fueled by information on Wednesday, regarding the partial opening of the US economy and the upcoming stimulus package from the government for another $500 billion. The dollar index strengthened by 0.10%. Data on the eurozone consumer confidence index, which showed a decline from -12 to -23 in April, contributed to the euro's loss of 35 points.


The price is declining under the balance and MACD indicator lines on the daily scale chart, the signal line of the Marlin oscillator continued to fall in the downward trend zone. The previously defined goal of 1.0610 gradually increases the attraction to itself.


The price reversed from the red balance line on the four-hour chart yesterday. The declining market mood is maintained. The price pierced the signal level 1.0812 with the lower shadows of the candles, which created a signal to open short positions. We are waiting for the euro at the designated target.

The material has been provided by InstaForex Company -